Harvey Investment Co. LLC Takes Position in Copart, Inc. (NASDAQ:CPRT)

Harvey Investment Co. LLC acquired a new position in Copart, Inc. (NASDAQ:CPRT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,855 shares of the business services provider’s stock, valued at approximately $254,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CPRT. Cadence Bank raised its position in Copart by 0.6% during the 1st quarter. Cadence Bank now owns 31,371 shares of the business services provider’s stock worth $1,817,000 after buying an additional 187 shares during the last quarter. WASHINGTON TRUST Co raised its holdings in shares of Copart by 0.3% during the second quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider’s stock worth $3,350,000 after purchasing an additional 200 shares during the last quarter. Spinnaker Trust raised its holdings in shares of Copart by 4.0% during the second quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock worth $283,000 after purchasing an additional 200 shares during the last quarter. Values First Advisors Inc. lifted its position in Copart by 2.9% during the second quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock valued at $384,000 after purchasing an additional 201 shares during the period. Finally, Duncan Williams Asset Management LLC boosted its holdings in Copart by 1.3% in the third quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock valued at $809,000 after purchasing an additional 203 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

Shares of NASDAQ CPRT opened at $51.34 on Thursday. The stock has a market capitalization of $49.40 billion, a price-to-earnings ratio of 36.17 and a beta of 1.27. The firm’s 50 day simple moving average is $52.29 and its 200-day simple moving average is $53.19. Copart, Inc. has a 12 month low of $42.41 and a 12 month high of $58.58.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the business posted $0.34 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. Analysts anticipate that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Robert W. Baird reduced their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.

Copart Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.